Answer:
Connor earns more interest than Wendy.
Wendy earns an interest of 7262.50 while Connor earns an interest of 11312.90
Step-by-step explanation:
The initial amount that Wendy and Connor deposited is 8300.
They both earn interests of 3.5%.
We will calculate the interest of each of them.
WENDY (Simple Interest)
Simple Interest is given as:
![I = \frac{P*R*T}{100}](https://tex.z-dn.net/?f=I%20%3D%20%5Cfrac%7BP%2AR%2AT%7D%7B100%7D)
where P = principal = 8300
R = rate = 3.5%
T = number of years = 25 years
Therefore, her interest will be:
![I = \frac{8300 * 3.5 * 25}{100} = 7262.50](https://tex.z-dn.net/?f=I%20%3D%20%5Cfrac%7B8300%20%2A%203.5%20%2A%2025%7D%7B100%7D%20%3D%207262.50)
CONNOR (Compound Interest)
Compound interest is given as:
![I = P(1 + R)^T -P](https://tex.z-dn.net/?f=I%20%3D%20P%281%20%2B%20R%29%5ET%20-P)
Therefore, his interest will be:
![I = 8300(1 + \frac{3.5}{100})^{25} - 8300\\ \\I = 8300( 1 + 0.035)^{25} - 8300\\\\I = 8300(1.035)^{25} - 8300\\\\I = (8300*2.363) - 8300\\\\I = 19612.9 - 8300\\\\I = 11312.90](https://tex.z-dn.net/?f=I%20%3D%208300%281%20%2B%20%5Cfrac%7B3.5%7D%7B100%7D%29%5E%7B25%7D%20-%208300%5C%5C%20%20%5C%5CI%20%3D%208300%28%201%20%2B%200.035%29%5E%7B25%7D%20-%208300%5C%5C%5C%5CI%20%3D%208300%281.035%29%5E%7B25%7D%20-%208300%5C%5C%5C%5CI%20%3D%20%288300%2A2.363%29%20-%208300%5C%5C%5C%5CI%20%3D%2019612.9%20-%208300%5C%5C%5C%5CI%20%3D%2011312.90)
Therefore, Connor earns more interest than Wendy. Wendy earns an interest of 7262.50 while Connor earns an interest of 11312.90.
Note: The amount in the question is unitless, that is why my answers are also unitless.